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Cash for Gold: Protecting Your Gold Valuables

Cash for Gold: Protecting Your Gold Valuables

It seems you can’t go to the mall, the grocery store, or drive down the highway without seeing a business that deals in cash for gold. Gold has always been a valuable asset throughout millennia and continues to be a commodity that is traded by countries and individuals alike. Although it cannot be used as currency, gold is acquired as a backup to mitigate against economic uncertainty.

Gold can take many forms. It is bought and traded in coins, bars, and jewelry. If you have gold in any of these forms or if you are thinking of acquiring gold valuables in the near future, one of the most important things you should consider is how you will store and keep it safe.


Evaluate your Risks

What form does your gold come in? For many people their gold is in jewelry form. Rings, bracelets, earrings, necklaces, pendants and more are all common jewelry items they own. As such, it is not all uncommon for them to keep their gold in a simple jewelry box at home. This isn’t the best idea.

Depending on the amount of gold you own, it is important to evaluate your risks. Thieves would love to make off with your bounty and gold in jewelry form is an attractive item to take not just because of its metallic value, but because it can be more easily sold on the street.

You must ask yourself a few questions as well about just how safe your gold is. Do you live in a gated community? Does your home have an alarm system? Do you own a safe? How many people know you have gold at home? Is it insured?


How to Store it


At Home. If you plan on storing your gold at home there are a few things you need to make sure of. First you need to have a safe. There are many safes out there, but basically you want to make it as difficult as possible for anyone to get in or walk off with the safe. Next, you need the safe location to be as hard to find as possible. No one can get into what they can’t find.

Rule number three is to just keep quiet about your treasure. Tell as few people as possible that you own gold in your home.

In a Safety Deposit Box. If you feel uncomfortable about securing your gold in your home, this is a common sentiment. Good news is you can secure your valuables in a safety deposit box at a bank. Check with your bank as some banks often supply safety deposit boxes free of charge. The only drawback is that more people know you have valuables in there and you won’t have immediate access if you need it.

In a Bank Vault. If you have more gold than will fit in a safety deposit box, some banks will allow you to store your gold coins and bars in their vaults. Be prepared though to pay at least .5-1% per year of the total value of your loot as a cost of storing and insuring it there.


Get Cash for Gold at Gold Unlimited

Gold is a great way to invest against long-term economic woes; however, if you need cash for gold now, come into Gold Unlimited today. We’ll give you top dollar for your gold jewelry, coins, or bars.

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